NuWallet announced today it has solved the most annoying obstacle for on-line shoppers using their mobile phone for purchases.
According to a recent survey by Adobe Scene7, "easy checkout" was singled out as the most important mobile-shopping feature among respondents. The mobile shopping experience today is greatly hindered by the difficult and time-consuming task of entering 100+ characters of billing information using the cumbersome mobile keyboard. "NuWallet has developed an application that cuts the mobile checkout process from minutes to just a few seconds by auto-populating all of the user's billing information to securely complete a transaction," said George Hendrix, President and CEO of NuWallet. The NuWallet app also eliminates the potential of billing input errors, which not only frustrates the customer, but also increases the likelihood of shopper abandonment resulting in lost revenue for merchants.
Mobile-shopping revenue is estimated to reach $9 billion in 2011. On-line merchants are optimizing their m-commerce shopping portals for search and navigation; however, they stop short at the last and most difficult step in the shopping experience which is checkout & payment process.
Secure transactions remain a major concern for online shoppers. Do they really want their personal credit card information stored on servers throughout the web? Unlike other payment processing systems, the NuWallet app does not store a user's personal information "in the cloud". Instead, the NuWallet application is designed to securely store personal credit card and billing information safely within the user's own personal mobile device. All confidential information (name, address, credit card numbers, etc...) are encrypted within the smart phone and/or tablet device and can only be accessed and transmitted by entering a personalized security PIN. Furthermore, the NuWallet app eliminates the need to register and store personal billing information at multiple e-commerce sites. This enables NuWallet to be the single, standard mobile payment and shopping platform.
Additional features of the NuWallee NuWallet application include:
* My Stores: Creates a personalized Shopping Center where consumers bookmark their favorite online-shopping destinations with one-click navigation
* Multiple Cards: Safely stores multiple credit/debit/merchant cards within their NuWallet application to allow for multiple payment options
* Digital Couponing: NuWallet shoppers have the ability to search and access digital coupon offers and special discounts that link directly to the NuWallet merchant shopping page
* Easy Integration: Quick and intuitive setup process for shoppers that easily integrates into a merchant's existing shopping cart system, remaining fully compatible with the established credit card processing ecosystem
As 2011 evolves as a turning point for the mobile commerce industry, NuWallet is strategically positioned to facilitate both on-line merchants and consumers to take advantage of this shift from PC to mobile-shopping usage. "As an on-line merchant, you must optimize the entire mobile shopping experience or risk losing sales opportunities," says Mr. Hendrix, "that includes a secure and easy setup process for customers, as well as a seamless integration with the merchant's existing shopping cart system. With this in mind, we are confident the NuWallet application will redefine the on-line mobile shopping experience," Hendrix added.